Carver Group announces the acquisition of Powrmatic 

The Carver Group is pleased to announce its acquisition of commercial and industrial HVAC specialist Powrmatic for an undisclosed sum.

“The acquisition of Powrmatic complements and further strengthens Carver’s presence within the HVAC sector, with the group well positioned to take advantage of future growth opportunities in both home and wider export markets,” comments Aidan Killeen, CEO of Carver Group.

This new acquisition adds a fourth production plant to the group’s manufacturing capacity and with the integration of Powrmatic the Group will employ over four hundred people across Europe and Canada.

Marilyn Skony Stamm, President of Stamm International Corporation, says, “Powrmatic is a strong strategic fit with Carver Group, a bringing together of a talented, experienced, and entrepreneurial group of employees who share similar core values of customer service, teamwork, integrity, and respect. My objective of finding the right acquirer for Powrmatic and all its employees has been met. This is a wonderful opportunity for both Carver and for Powrmatic.”

The deal represents an exciting step in the Carver Group’s ambitious plans to continue to grow and invest in businesses in the HVAC sector in Europe and North America. Darren Hodson, Partner at PKF provided the corporate finance advice, financial and tax due diligence and the corporate legal team at Penningtons Manches Cooper, led by corporate partner Adam McGiveron, advised throughout the process.

Aidan adds says, “There are considerable business synergies in the portfolio of products manufactured by Powrmatic and we believe this acquisition will afford our customers a greater product offer and solution.

“The Powrmatic ethos and values are an excellent fit for the Carver Group, being privately owned with a long legacy of success and dedication to customer satisfaction and quality.”